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Issuance of ART credits to Guyana a breakthrough for global carbon market, says Norway

OilNOW -
Norway’s Minister for Climate and Environment, Espen Barth-Eide, said the validation and issuance of certified carbon credits on the register of Architecture for REDD+ Transactions (ART) is a breakthrough for the emergence of a high-quality global carbon market to...
News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

OilNOW -
A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking facility and shipyard located at Supply, on Guyana’s East Bank corridor. Dry Dock will be housed on a 30,000 square feet...
News

Petrobras to plug US$78 billion into CAPEX for 2023-2027

OilNOW -
Brazil’s state-owned Petrobras plans to invest over US$78 billion into capital expenditures (CAPEX) to achieve goals outlined in its new 2023-2027 Strategic Plan. Petrobras said that the amount is higher than the average of its last six strategic plans, signaling that investments have returned...
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More Guyanese trained to service electric vehicles

OilNOW -
The Department of Public Information has said that thirteen persons received certificates for their successful completion of a Level Three Hybrid and Electric Vehicle training programme in Georgetown. The five-day programme taught participants how to identify, repair, and maintain various...
News

Guyana’s oil fund almost at US$1.4 billion at November’s end

OilNOW -
Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end of November 2022. In its monthly statement on the Fund, Guyana’s Central Bank said the account received GY$36.9 billion (US$177.14...
News

Resource-dense Stabroek Block offers tremendous scope for tie-backs – Hess Chief

OilNOW -
With Guyana’s Stabroek Block being such a resource dense concession, ExxonMobil Guyana and its partners see great potential for tie-backs that could lengthen the lifespan of varying projects. This was noted by Chief Executive Officer (CEO), John Hess during the Bank of America...
News

Guyana, Brazil will have to brace for costlier deepwater projects

Kemol King -
In a recent analysis of deepwater developments, Wood Mackenzie said that supply chain constraints remain a concern. And this spells difficulty for operators under pressure to increase drilling and production at a time when energy markets have been sent...
News

Strong institutions, citizens’ innovative skills key to Guyana unlocking oil potential – Professor Haynes

OilNOW -
As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens. Making this point during...
Energy Insights

Seven women in government hold power to use oil revenues for a visible leap in Guyana’s social services

OilNOW -
Crowned “the fastest growing economy in the world”, on account of its spectacular Stabroek block discoveries, the Guyana government shoulders the responsibility of ensuring the growth is converted into development. It must, at the very least, strengthen its human and institutional...
News

Eco (Atlantic) fully funded for Guyana well next year

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. said it is fully funded for the next well to be drilled in the Orinduik Block offshore Guyana in 2023. The company made this disclosure in a report on its good financial health for the first...
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ExxonMobil says Guyana operations funded from equity, not U.S. taxpayers’ dollars

ExxonMobil Guyana says no American taxpayer money is financing its operations in the South American country. President, Alistair Routledge,...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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